Georgetown - The much anticipated national and regional elections came and went with the electorate opting for a minority government, the first of its kind since independence. The international observers have given a clean bill to the election. The new president is PPP/C's general secretary Donald Ramoutar. Mr Ramotar has been sworn in and has already named his cabinet which includes many new faces. The nation now looks forward with interest as to how the country would be governed.

In the meantime, post election protests - not unfamiliar to Guyana, although peaceful so far - are taking place in the city with businesses suffering since election day as people opt for the safer route of staying away.

The results of the elections show that of the four contesting parties, the PPPC earned 32 seats while APNU scored 26 and the AFC 7. The TUF did not obtain enough votes to qualify for a seat and most likely is now relegated to irrelevancy on Guyana's political landscape.
Although the total number of seats held by the combined opposition is greater than that of the PPP/C, the former cannot collate to form a government as the constitution does not allow for a post election coalition of parties.
The results show that of a total of 475,496 registered voters only 346,717 (72.9%) exercised their franchise which means that 128,779 persons opted not to vote (27.1%). This is a significant percentage and sends a strong message of voter apathy to the politicians, especially the ruling party. The PPP/C – 166,340 (48.6%), by clinching the majority of valid votes by any single party, has retained the presidency while the opposition APNU – 139,678 (40.8%) and AFC – 35,333 (10.3%) together share a total of 175,011 (51.1%). The TUF's tally of 885 votes (0.2%) proved to be inconsequential.
With the combined opposition scoring more seats than the governing PPP/C, the latter will be obliged to find ways to work with the opposition in order for the parliament to function.
The main opposition - APNU - has long been clamouring for shared governance which the PPPC majority government has never yielded to. With the new reality brought about by the 2011 elections results, it would be interesting to see if, and what kind of accommodations that party might be willing to make now.
In any case, the President has appointed a 20-member cabinet which does not include any member of the opposition parties. (See page 8)
The non attendance by both APNU and the AFC at the swearing in ceremony of President Donald Ramoutar does not send a signal that cooperation by the opposition will come easily to the PPPC government.
In the meantime, there are activities and processions taking place on the streets of Georgetown in support of APNU's call for reconciliation of the Statements of Poll of the just concluded elections.
APNU claims that there were a number of irregularities including multiple voting, persons being discouraged from voting, altered and missing Statements of Poll and possible ballot box tampering. Those claims have been for the most part been rejected by the Guyana Elections Commission.
It is reported, however, that on Tuesday, about 500 APNU protesters were marching illegally to press their case when the police opened fire with rubber bullets and used tear gas to disperse them. Many were reportedly injured, among them APNU youth activist, Attorney-at-Law, James Bond and former Retired Brigadier, Edward Collins.
Several persons were arrested by police and subsequently released, among them, a former GDF Captain, Fitzroy Corlette who lives in Conyers, Georgia, and who has been present in Guyana campaigning for APNU. Corlette was a member of the GDF up to 1983.
Corlette and several others, who were arrested outside the National Insurance Scheme on Winter Place, were reportedly injured in confrontation with police and treated at the Georgetown Public Hospital Corporation and other medical facilities.
APNU leader, Retired Brigadier David Granger commented that innocent persons were injured by the police although they were peaceful and had not attacked anyone or buildings.
The elections over, analysts and commentators are looking at what appears to be the continuation of the well established pattern of racial voting. While strongholds of the former PNC (now APNU) appear to have voted solidly for that party, the PPPC's support in Region 6, its traditional stronghold area, has slipped. A significant number of voters did not cast their vote, while others opted to support the AFC.
Just before going to press, ICW has learnt that the Guyana Elections Commission has decided to hand over the Statements of Poll to the parties that contested the elections.
GECOM chairman Dr. Steve Surujbally reportedly said: "I'm handing it over to them this afternoon, the Statements of Poll and the summary of the box-by-box-statements and let's see if that satisfies them. If not they can meet with me tomorrow."

 

Georgetown — The Cabinet of newly elected President Donald Ramotar was sworn in at State House last Monday and while there were several new faces those retained have been reshuffled.
Prime Minister Sam Hinds was the first to take the oath.
Among the new faces who have been appointed ministers are Permanent Secretary Nanda Gopaul, Bishop Juan Edghill, Attorney at Law, Anil Nandlall, elections official Ganga Persaud and Dr Bheri Ramsaran.
Nanda Gopaul, former Permanent Secretary in the Office of the President is the new Minister of Labour, replacing Manzoor Nadir. Attorney at Law, Anil Nandlall is the new Attorney General replacing Charles Ramson SC. It was noted in Stabroek News (SN) that Nandlall is not a Senior Counsel and the convention has always been that the leader of the Bar would be someone who has taken silk. This concern was raised in 2006 when Nandlall's name was considered for the appointment at that time.
Bishop Juan Edghill has been named as the Minister in the Ministry of Finance. Former Permanent Secretary and Elections Official Ganga Persaud is the new Minister of Local Government and Regional Development replacing Norman Whittaker who will be the Minister within the same Ministry.
Dr Bheri Ramsaran is the new Minister of Health. He had previously served as the Minister in the Ministry.
Among those who have been reshuffled is Priya Manickchand who is the new Minister of Education replacing Shaik Baksh. Jennifer Webster, formerly of the Ministry of Finance, will replace Ms Manickchand as Minister of Human Services and Social Security. Former Minister of Health, Dr Leslie Ramsammy is the new Minister of Agriculture and according to SN it is unclear what skills the long-serving Minister of Health would bring to this area. Robert Persaud, formerly Minister of Agriculture is now the Minister for Natural Resources and the Environment. This is an entirely new portfolio and takes some responsibilities from the Prime Minister's portfolio and the Office of the President, SN reported. Former Region Two (Pomeroon/Supenaam) Chairman and PPP/C stalwart, Ali Baksh is now a Minister in the Ministry of Agriculture.
Among those retaining their portfolios are Dr Ashni Singh, as the Minister of Finance; Carolyn Rodrigues, as Minister of Foreign Affairs; Robeson Benn, as Minister of Works; Pauline Sukhai as Minister of Amerindian Affairs; Jennifer Westford as Minister of the Public Service; Frank Anthony as Minister of Culture, Youth and Sport and Irfaan Ali at the Ministry of Housing and Water.
There was no announcement of an appointment at the Ministry of Tourism, Industry and Commerce which was previously held by Minister Manniram Prashad, who along with Manzoor Nadir, Charles Ramson and Shaik Baksh are no longer in the cabinet.
President Donald Ramotar did not go outside of the PPP/C for his cabinet picks as he has retained several persons with close ties to former President Bharrat Jagdeo.
However, the President held talks with David Granger, Presidential Candidate for APNU and Khemraj Ramjattan, Presidential Candidate for AFC at his office. Issues discussed were those that were of concern to the opposition parties.

 

Georgetown — Chairman of the Guyana Elections Commission (GECOM), Dr Steve Surujbally, in defending the delay in releasing the final results of the 2011 National Elections said that the Commission has held fast to its mandate and to the laws that govern its actions and methodology, and has delivered a result that can withstand scrutiny, "even in the face of flak from an uncomprehending and sometimes, unsympathetic public."
He went on to clear any doubt of complicity stating: "I have to make it absolutely clear that GECOM is not and will never be involved, as has been surreptitiously suggested, in any clandestine machinations with any political party, nor do we rig elections. Let that sink into the psyche of the doubt casters."
He added "When you hear all the grandstanding about the time it takes for the process to unfold, well, the purveyors of such sentiments can only be categorized as disingenuous, perhaps hypocritical …the word I would like to use is perfidious."
In his address prior to the announcement of the results, the GECOM Chairman stated that elections "are arguably the single most important tile in the complex mosaic of democracy and that is why the stakeholders must at all times try to get it right".
He explained that in light of this, the results, which were derived from the elections that were conducted in accordance with international best practices, must be absolutely accurate and unchallengeable.
He acknowledged that the delay had caused some impatience, which reflected itself in genuine or feigned peevishness.
However, he urged that the nation think about the alternative if the Elections Commission did not pursue the path that it did.
"If we were to make unsubstantiated and incorrect declarations, the possible repercussive effects could be hideous and too tragic to even contemplate."
"Certainly we could have accepted telephone calls throughout the night of November 28th, relaying the results, as some people had suggested… we would have made the necessary calculations based on the information received from the presiding officers by phone and…the results are declared on the 29th and then those who are saying that we took too long would be very happy.
Apart from being in contravention of the laws associated with the declaration of results, that would have been a recipe for disaster," Surujbally stated.
"Only ill-formed people could advocate such a proposal," he added.
The procedure for the receipt and compilation of the results of the elections prescribes that when the individual statements of polls are received at the GECOM Command Centre from their respective polling stations, they have to be checked for accuracy. Then the results delineated on the statements of poll have to be double checked with those in the possession of the respective returning officers, thus ensuring that they collectively represent the totality of the results of the balloting which were conducted at the various polling stations within the particular districts.
"If an error is detected, the process for that district cannot and will not go forward," Dr. Surujbally said.
He added that those who have been criticising GECOM for the delay, will be the first to accuse the commission of breaking the law.
According to Surujbally, despite all the criticisms, he is not aware of any political party even remotely, even by inference, suggesting any departure from the legal procedures.
He said that while he acknowledged the anxieties of the society, he is sure that the citizenry will accept the correct results.
"It must be understandable to all concerned that if takes two and a half days to arrive at the final incontestable result, no one should be disheartened."

 

Georgetown — The overseas observers who monitored the just concluded national and regional elections have all given a clean bill of health to the conduct of the elections.
The Commonwealth Observer Mission stated that many of the benchmarks for democratic elections have been met, even though some concerns, notably in terms of aspects of the campaign, remain to be addressed for the future. The mission added that concerns were raised with them that the Code was not wholly respected and that state resources were used in the interest of the ruling party. The Commonwealth team noted that state-owned TV, radio and print media showed overt bias in favour of the government and ruling party in its coverage and news reporting.
The 15-member Commonwealth Observer Mission was headed by former Commonwealth Parliamentary Association Secretary General, Denis Marshall, Queen's Service Order, (QSO), who also served as a minister in the New Zealand government.
Organisation of American States (OAS) Electoral Observation Mission fielded a team of 25 observers from 14 countries. They were present in nine of the country's 10 administrative regions and maintained a 24-hour presence in the GECOM tabulation center since the close of polls. On Election Day, the OAS observers noted that the polls opened on time in nearly all the observed locations, all essential materials had arrived, and that the poll workers ensured the smooth flow of the process.
Commenting on GECOM's delay in announcing the results of the election, OAS Lead Observer, Gordon Shirley said "It is unfortunate that following a generally well administered election up to and including Polling Day the failure to ensure the timely dissemination of results may undermine the good work done thus far."
The OAS Observer team has made several recommendations for improvement to future electoral processes.
Caribbean Community (CARICOM) Electoral Observer Mission in its assessment of Elections Day stated that the people of Guyana were given the opportunity under good conditions to elect a government. The team noted that the atmosphere at polling stations on Elections Day was conducive for free and fair elections.
The group was headed by Mr. Hensley Robinson of Barbados with Ms. Lorna Simon of Antigua and Barbuda as Deputy Head. It fielded 15 persons from overseas and four from the local CARICOM office. The 19 persons were deployed in eight teams of two each and one of three to cover Elections Day activities. On Election Day one team was deployed in Regions Three, Five and 10 respectively; two teams to Region Four and four teams to Region Six.
Robinson stated that at the closing of the polls at the 15 stations visited it was observed that there was no one waiting in line to cast a vote at 6:00 pm., hence only the officials, police and observers witnessed the closing of poll.
Moreover, no issues arose with the counting of the ballots and all the observers took part in that process and were satisfied with the proceedings.

 

Georgetown — Two men were remanded to prison last Monday by Providence Magistrate Leslie Sobers on a charge of robbery under arms. Johnny Bailey, 20, and Lester King, 25, were reportedly armed with a gun when they allegedly robbed Raphael Bagot of a bag containing some $1.5 million last Friday at Garden of Eden, East Bank Demerara.
Both men, who were unrepresented, gave frivolous excuses when asked to explain how they ended up in court which prompted the magistrate to remark: "So you mean to tell me the two of you were just two innocent men one going to visit a friend and the other visiting his girlfriend and his innocent car got stolen and ended up on a robbery. Do I look stupid?"
The Magistrate then wished the men a Merry Christmas and a Happy New Year before remanding them to prison until February 8.

 

Georgetown — Prakash Mohabir, 57, a fisherman of Lusignan, East Coast Demerara, was attacked by pirates three Wednesdays ago in the Atlantic Ocean off West Corentyne, Berbice.
Mohabir said that shortly after 10:00 pm he was awakened by the sound of a gunshot while he was sailing in his drift seine boat. He said a boat with six men came alongside and two of them, who were armed, boarded his boat and started offloading his 12-days catch of fish. The men then proceeded to destroy his engine and parts of his boat. They also took all the gasoline, cell phones, leads to the boat engine along with the fish glue.
Mohabir said he used a tarpaulin to make a sail and managed to reach the shores of Meadow Bank Wharf where he reported the matter at the Ruimveldt Police Station. However, he was told that he would have to visit Number 51 Police Station to make a report in order for there to be an investigation.

 

Georgetown — Kellon Mc Leod, 21, of Victory Valley, Wismar, Linden was jailed for four years last Monday by Magistrate Sueanna Lovell after he pleaded guilty to charges of possession of a gun and ammunition. He will return to court later to answer a further 12 charges of robbery under arms.
Mc Leod was accused of having in his possession one .32 pistol without being the holder of a licence and having 11 live matching rounds of ammunition for the said gun last Wednesday. He was given four years for each charge which will run concurrently.
The police also recovered a gold chain worth $200,000, a cell phone and $3,000 that the suspect had allegedly stolen from a Wismar resident the same day.

 

Georgetown — Quick action by neighbours averted what could have been a major disaster after an enraged man allegedly set fire to the house of another resident with whom he had an earlier fight two Sundays ago.
According to Rajpattie Judister, 24, her husband, Omadat Seecharran, 30, a cane harvester attached to the Rose Hall Estate, had left earlier to go to a wedding house in the same village. The arson suspect, known as "Tattoo Man", and her husband had a confrontation at the wedding house where the suspect threatened to beat him up and burn his house down with his family inside.
The woman said that her husband, who was intoxicated, was on his way home at around 9:30 pm when "Tattoo Man" ambushed him and dealt him several slaps and later beat him with a paling stave. The attacker fled the scene but is reported to have returned and set the home on fire in Betsy Ground, East Canje, Berbice.
The woman, her husband and four-year old son, Devin were in the house when the fire broke out.

 

Georgetown — Alistair Crighton, a 33-year-old miner was hacked to death by an 18-year-old man two Tuesdays ago at Kokerite, in the Barima/Waini, North West District.
Crighton, of Lower Kara Kara, Linden, died shortly after he was chopped on the neck by the suspect, who has been detained.
According to reports, Crighton was with a friend when the teen approached and threatened them before moving on. The two men didn't take the threats seriously and remained where they were. Shortly after, the suspect sneaked up on them and chopped Crighton on the neck, severing the jugular vein. He died shortly after.
Kaieteur News reported that persons at the scene inflicted a severe beating on the attacker before tying him up and handing him over to the police.
Meanwhile a Brazillian man known only as 'Amazon', was reportedly slain by one of his fellow countrymen known only as 'Labido' during an argument two Sundays ago at a shop located at Butterfly backdam, Cuyuni. According to reports, the two men were drinking at a shop, which is owned by a Brazilian woman, when an argument broke out between them.
'Labido,' who was armed with a knife, reportedly stabbed the victim before fleeing the scene.
And in another case, another Brazilian, 49-year old Sebastiao De Souza, was found dead last Thursday at Arangoy, Cuyuni River with a suspected gunshot injury under his chin and a shotgun and two spent shells nearby.
So far forty-one murders have now occurred in the E&F Division for the year.

 

Georgetown — Victor Benjamin, a former Guyana Defence Force rank, who had returned to the country from the USA a month ago, suffered minor injuries after he was attacked and relieved of US$750 by bandits on a motor cycle recently.
Benjamin, who had represented the GDF in athletics and cricket, said that he had just left a popular jewelry establishment nearby after conducting business and was at the junction of Hunter Street and Punt Trench Dam when he was attacked by two men on a motorcycle.
The driver rode the motorcycle onto him causing him to fall while the pillion rider grabbed his bag and attempted to yank it from his shoulders. The men also tried to relieve Benjamin of a huge gold chain around his neck but he held on for dear life. The men fled with Benjamin's wallet containing US$750.

 

Georgetown — Almost a week after being granted a licence to start gold mining operations in Guyana, Canadian-owned Guyana Goldfields Inc. has disclosed that it has signed confidentiality agreements with six parties interested in buying the company and its Aurora gold project. Chief Operating Officer Claude Lemasson in a recent interview with Bloomberg at the company's headquarters in Toronto said, "We have been on the radar of many companies, I think, for quite a while."
The six companies that have signed confidentiality agreements are "well established, well funded and well respected," Lemasson said. He added that the list includes majors and mid-tier miners but declined to give more details.
The company plans to complete a feasibility study for Aurora by mid-January, Lemasson indicated. He stated that an open-pit mine and processing facilities may cost about US$400 million and the company is still considering how quickly it will start developing underground operations, which may cost another US$375 million to US$400 million.
Lemasson added that the company may sell stock or convertible bonds in the next four months to raise between US$100 million and US$150 million to fund development. However, it was unclear whether the company is allowed to sell under the current licence.
According to the company, recently, the agreement with the Guyana Government details all fiscal, property, import-export procedures, taxation provisions and other related conditions for the continued exploration, mine development and operation of the Aurora Gold Project. Included in this agreement is the stipulation for the company to pay royalty at five per cent on gold sales at a price of gold of US$1,000/oz or less. But should the price for gold exceed the US $1,000/oz mark then the company will be required to pay eight per cent royalty. The company has also agreed to pay a corporate income tax rate of 30 per cent and no withholding tax on interest payments to lenders.
The company has also secured for itself through the agreement, duty and Value Added Tax exemptions on all imports of equipment and materials for all continuing operations at the Aurora Gold Project, including the construction and operation of a planned port facility, road and power improvements and the construction and operation of the mine.
Guyana Goldfields received its licence for Aurora two weeks ago. It was the first issued in the country for a large-scale gold mine since 1991, the company said two weeks ago. Commercial production at Aurora, at an annual rate of about 250,000 ounces of gold, is forecast to begin in the first half of 2014, Lemasson said.
International Finance Corp., a shareholder, is helping arrange a debt package for the project with other development agencies, Lemasson said. The debt and some equipment financing, which may be in place by the second half of 2012, would probably cover $150 million to $175 million of the project's cost, Lemasson said.

 

Georgetown — Founding member of the Alliance For Change (AFC) Sheila Holder passed away on November 20 in New York last after a prolonged period of illness arising from cancer. She was initially chosen as the party's prime ministerial candidate for the just concluded elections but was forced to withdraw due to health reasons.
Mrs Holder was buried in Brooklyn, New York two Saturdays ago. She is survived by her husband, Noel Holder, Managing Director of I-Net Communications Inc. and children Yale, Sheldon and Kaila.
Sheila Holder was a former Parliamentarian for both the AFC and Working People's Alliance (WPA). She was described as a homemaker, civil society activist, consumer advocate and politician. She was married to Noel Holder, an agriculturist, for the last 36 years, a union which has produced two sons and a daughter.
In 2001 Mrs Holder entered parliament on a GAP-WPA ticket. She was a member of the Parliamentary Management Committee, the committee for the appointment of members of constitutional commissions, and the Standing Orders Committee. Along with fellow AFC founding members, Raphael Trotman and Khemraj Ramjattan, she participated in the World Bank Seminar on Parliament, Good Governance and Poverty Reduction in Helsinki, Finland, in 2003 and during that time she was contracted by the OAS to prepare a study on "Political Party Campaign Financing" in Guyana. She also served as a member of the Trustee Board of the NGO Forum, and as a director of Guyana Stores Ltd, the Guyana National Bureau of Standards and the Bauxite Industry Development Company Ltd. In 1995, she became chairperson for the environmental chapter of the Guyana National Development Strategy.
Within the region, she was elected a member of the CARICOM recognised Caribbean Consumers Consultative Committee (CCCC), a precursor to the Caribbean Consumers Council. She was also a member of the Global Policy & Campaigns Committee (GPCC) of Consumers International (CI) as the representative for Latin America and the Caribbean. She represented the regional group at meetings such as the CARICOM "Forward Together Conference" with heads of governments; the seventh CARICOM Council Meeting for Human and Social Development; and the 23rd Meeting of Ministers and ACP-EU Economic & Social Interests Groups, in Brussels.
In 2002, she was recognised by the St Lucian Ministry of Commerce, Tourism, Investment and Consumer Affairs and the St Lucian Consumer Association for her contribution to the advancement of the consumer movement in St Lucia.
During 2004, Holder was a part of the Commonwealth expert team of five mandated by the Commonwealth Secretary General to report on the Cameroon registration process for presidential elections. She returned subsequently as a member of the 45th Commonwealth Elections Observer Group to the Cameroon presidential elections under the chairmanship of the Joe Clark, former prime minister of Canada.
Holder had presented several papers at international conferences including one on "Privatisation of Telecommunications – the Guyana Experience" at the Consumers International Fourth Regional Conference for Latin America and the Caribbean held in Santiago, Chile, and had contributed articles to regional and international publications.

 

Georgetown — The police are currently investigating a report that two Molotov cocktails were thrown at the home of People's Progressive Party member Odinga Lumumba.
According Kaieteur News (KN) the incendiary devices were thrown shortly after 3:00 am last Monday at Lumumba's Meadow Brook Gardens home. It was reported that the security guard raised an alert and managed to extinguish the small fire in the yard which caused minor damage to the house.
Lumumba reportedly said that he has always been the target of opposition forces at elections time. He recalled that in the wake of the 2001 elections a gang had swarmed his home and following the 2006 elections, someone had hurled a Molotov cocktail at this home. Since then, he said he had been taking measures to protect his family every time the elections come around.
It is not clear whether Lumumba was target for his political support or because of a fracas he had with a polling agent on Elections Day when he allegedly assaulted Presiding Officer, Onika Beckles, at an Aubrey Barker Road Polling Station.
That matter is in the hands of the police. Lumumba reportedly had also grabbed the camera phone from an Electoral Assistance Bureau (EAB) observer who began recording the altercation and threw it to the floor destroying it in the process.
Lumumba subsequently apologized to the election observer and offered to replace the phone saying that he was angry at the time. He has since replaced the phone, KN reported.

 

Georgetown — The Georgetown Public Hospital Corporation in-patient facility, which was funded by the Inter-American Development Bank (IDB), was commissioned last month. The $1.6B state-of-the art in-patient facility, which was under construction for a few years, is expected to help improve the delivery of health care offered by the public hospital.
In commending the completion of the facility, IDB Operations Specialist, Leslie-Ann Edwards, said that the IDB is committed to continuing its support towards the development of the health sector in Guyana and that "we welcome further opportunities to deepen our relationship in this area."
Mrs Edwards admitted that while the construction of the recently commissioned facility was not an easy task, "I am told that it was a labour of love, drive and at times sheer willpower and commitment by both project teams within the IDB and the Government."
The ultimate result was however a success, as according to Edwards, there were many creative approaches that were employed using joint decision making and a large degree of flexibility to mitigate many of the risks that cropped up along the way.
Mrs Edwards observed that this facility along with the Linden Hospital, which was commissioned in December of 2009, are two of the visible and tangible results of a reform programme that was initialised in 2005 and came to an end in June of this year. She said the Linden Hospital Complex "marked a significant achievement in the Government's commitment to providing first class health care services outside of the city limits."
These infrastructural developments with the health sector, she explained, were framed within the Government's National Development Strategy 2001-2010 which the bank had been happy to support.
She revealed that the IDB's support to Guyana dates back to a project in 1978 and since then the bank has continued to collaborate in a number of areas. Among these are far reaching infrastructural development and institutional reform that contribute to increases in the quality of both health care delivery and patient care and well being, Edwards said.

 

Georgetown — Canadian-based oil and gas exploration company CGX Energy Inc, announced last Monday that its wholly owned subsidiary, CGX Resources Inc., has awarded a 1,160 square kilometre 3D marine seismic contract to a subsidiary of Petroleum Geo-Services (PGS). PGS's Ramform Challenger will undertake the five week contract commencing mid-December.
Stephen Hermeston, President and CEO stated, "This 3D seismic program has been designed to better image the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and to cover the two early Cretaceous, Albian prospects (Crabwood and Kabukalli) which are underlying the Company's 100% owned Corentyne offshore Petroleum Prospecting License (PPL) and for which CGX obtained an independent resources evaluation report from DeGolyer and MacNaughton of Dallas earlier this year that provided a total best estimate (P50) of prospective resources of 325 million barrels of oil. We are enthused about these prospects which CGX plans on pursuing subsequent to the drilling of the Company's Eagle-1 well that will test the Eocene and Maastrichtian trend."
PGS is a leading geophysical services company founded in 1991 in Norway with offices in 25 countries and regional centres in London, Houston and Singapore. PGS offers a broad range of geophysical services and has 14 offshore seismic vessels.
CGX Energy is focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom. CGX trades on the Toronto Stock Exchange under the symbol OYL, (TSX-V: OYL).

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